EIC - World's latest project updates

1- USA - Venture Global, Plaquemines LNG Export Terminal, $13.2 billion

Venture Global has reached a final investment decision (FID) on the Plaquemines LNG export project and associated Gator Express pipeline after securing US$13.2 billion in financing for the terminal's initial phase (13.3 mtpa). An FID on Plaquemines' second phase is expected by the end of the year.

2- THAILAND - PTTEP Arthit Offshore Gas Field – Carbon Capture and Storage Project, $600 million

Feasibility studies have been completed to develop carbon capture and storage at the offshore field.

The project is currently in the Pre-FEED phase and with CCS operation expected to commence by 2026.

3- BRAZIL - Petrobas, Buzios Oil Field, (Phase 9 – P-80 FPSO), $3.5 billion

Bids for the P-80 FPSO have been submitted with Keppel the lowest bidder. The ninth FPSO on the prolific Buzios field is expected to process 225,000 barrels of oil per day and 12MMcm/d of gas.

The vessel will be linked to eight production wells and seven wateralternating-gas (WAG) wells.

4- BELGIUM - INEOS, Antwerp Ethane Cracker Plant, (Project ONE Phase 2), $2.2 billion

INEOS has awarded Tecnicas Reunidas a project management, engineering, procurement, and construction management contract covering the Antwerp Ethane Cracker project. For the development of the project, Tecnicas Reunidas will mobilise up to 450 people, along with 225 people to supervise construction at the Antwerp site and at the centre where the construction of the large scale modules (designed by Tecnicas Reunidas) will be carried out.

5- CANADA - Cenovus Energy Inc, West White Rose Extension Project, (WREP) Offshore Oil Field, $3.1 billion

Cenvous Energy and partners have agreed to restart work on the project. The partners in the project have worked to significantly to firm up cost estimates, rework the project plan, and de-risk the project over the last 16 months. Given that the project is already about 65% complete, they are confident to restart the project in 2023. Operations are planned to start in the first half of 2026, reaching a peak output of 80,000 b/d by the end of 2029.

6- ROMANIA - OMV Petrom, Neptun Block – Domino-1 Gas Field, $1.3 billion

OMW Petrom and Romgaz SA, which is taking over the ExxonMobil share of the development, are looking to make a final investment decision for the projectcas early as the end of 2022. This comes after the parliament approved the offshore law, allowing Black Sea gas projects to progress. First gas should be no later than 2026.

7- QATAR - North Oil Company, Al-Shaheen Offshore Development – Gallaf Project Phase 3, US$2 billion

McDermott International has stated that it has been awarded by NOC the FEED contract for the the Al Shaheen Phase 3 project. The scope of the contract is to provide FEED studies and deliverables that are suitable for an EPCIC contract, which includes creating FEED data, providing a schedule for EPCICm cost estimates and developing an early work plan for the brownfield scope with the necessary site surveys. The FEED contract also includes a new design for greenfield facilities and brownfield modifications that complies with the related rules and regulations. The contract will be managed by McDermott International's Doha office while supported by its office in Chennai.

8- DENMARK - Copenhagen Infrastructure Partners BrintØ - North Sea Hydrogen Island US$1 billion

Copenhagen Infrastructure Partners (CIP), with COWI and Arkitema are planning to develop an artificial island in the Danish part of the Dogger Bank, an extensive sandbank in the middle of the North Sea spanning UK, Dutch, German and Danish waters. The island would produce 1 million tonnes of green hydrogen annually using electrolysers powered by 10GW of offshore wind to export via pipeline to Germany, Belgium and Netherlands.

9- AUSTRALIA - Shell, Crux Gas Condensate Field, US$2.5 billion

Shell has reached the final investment decision (FID) for the Crux gas project. It is understood that the project will cost around US$2.5bn and it is expected to produce 1.6Tcf of gas, 60MMbbl of condensate and 40MMbbl of LPG. Construction works for the project is targeted to begin in 2023 and the commercial operations is targeted to commence in 2027.

10- INDONESIA - BP Ubadari and Vorwata Fields (Berau, Wiriagar & Muturi PSC) - Enhanced Gas Recovery, US$2 billion

BP has started the prequalification process of companies for the FEED contract. The FEED work will cover the surface and sub-surface offshore facilities for the Ubadari field, receiving facilities at the Tangguh LNG plant, enhanced gas recovery as well as gas compression. The enhanced gas recovery project is expected to produce 1.27 Tcf of gas and 3.77 million barrels of condensate.